In a study I highlighted a few days ago, I discussed a PricewaterhouseCoopers report that demonstrates the tremendous 26-percent growth online advertising enjoyed this year in the U.S over the same period a year ago.
PricewaterhouseCoopers just completed the same report in the U.K. and, to almost everyone’s surprise, online advertising was up over a whopping 62 percent in the first half of 2005 compared with the first half of 2004. The story broke Tuesday (October 4th) on BBC. The story also reports that the Internet’s share of advertising grew 51 percent in the first quarter of 2005. How about those Brits!
According to Guy Phillipson from the Internet Advertising Bureau (IAB), the growth was fueled by four main factors:
1) More broadband penetration
2) More online media consumption
3) More rich media advertising
4) More online retail buying
As reported in the BBC article, Paul Pilkington from PricewaterhouseCoopers said, “The Internet is an exceptional medium in that it now acts as a source of entertainment, information and communication for the majority of the UK population….Advertisers are realizing this and allocating their budgets accordingly.”
These strong overseas growth figures and the previously reported U.S. online growth figures bode well for the continued rapid expansion of online as a major resource in any communications program.